"It would be impossible to say that the legal proceedings against General Motors had any legal logic."
General Motors said on Tuesday it has ceased operations at its Venezuela plant and will take up to a $100 million charge after a judge ordered the seizure of its plant last month. The largest U.S. automaker said it is deconsolidating its business in Venezuela. The decision follows the seizure of GM's Valencia plant in Venezuela on April 18 by judicial authorities, which led the automaker to fire 2,700 workers via text message. The GM plant had not produced a car since the beginning of 2016 beca
"We all received a payment and a text message," according to a worker.
There aren't many places in the world where one can buy a gallon of gas for the equivalent of a nickel, but, for the time being, Venezuela is one of those places. There the price of gasoline has been frozen for nearly two decades, but the country's president, Nicolas Maduro, says he favors raising prices gradually over three years to help fight the country's economic crisis, The Detroit News reports.
Quick, name the country certified by OPEC as number one in national oil reserves. Saudi Arabia? No. Canada? Nope. Venezuela? Bing!
Venezuela might be seen as something of a hooner's paradise. Gas is free 12 cents per gallon, drivers' rights reign supreme, and traffic law enforcement is practically nonexistent. Maybe that's all changing, though. This week, Venezuela's national police chief, Luis Fernandez, held a press conference to announce the first-ever suspension of driving privileges for one of its citizens.
If you're thinking about taking to the highways of Venezuela any time soon, here's a little tip for you: don't speed. Evidently the country's roads are known for the kind of highway craziness that would make Miami look conservative. While recently driving his own personal motorcade, Venezuelan president Hugo Chavez was harassed by a pickup truck whose driver thought Chavez was going too slow. The driver blew his horn and flashed his lights before passing the president on the shoulder.
Venezuelan president Hugo Chavez – notable Fidel Castro wannabe, loudmouthed buffoon of the first order and apparent Cadillac aficionado – has given an ultimatum to General Motors, Fiat (i.e. Chrysler), Toyota and Ford: Share your technology with us or get out of the country. (In Toyota's case, it sounds as if Chavez wants them to hit some arbitrary quotas, as well.) The affected parties, all of which maintain production facilities in the country, kept mum in response to Chavez's dem
Chavez is backing off his threats to cut oil sales to America that we recently told you about. According to Bloomberg, Venezuelan President Hugo Chavez said on state television that, "We don't have plans to stop sending oil to the U.S. ... All I've said is that, if the U.S. attacks us, we'll have to decide not to send one drop of oil to the U.S." False alarm everyone, back to using gas. Chavez meant if we attacked him, he would stop oil shipments ... which would make sense.
Every day, the U.S. imports roughly 1,150,000 to 1,200,000 barrels of oil from Venezuela. Venezuela is America's fourth-largest source of oil. Thanks to a legal tussle concerning Exxon Mobil and the country of Venezuela, Venezuelan president Hugo Chavez has threatened to stop exporting those barrels to America in an "economic war," according to the AP.
Equal rights activists note that, with few exceptions, motor racing is an almost entirely male-dominated sport. In fact, the vast majority of racing drivers are white men, with only a handful of pioneers like Narayan Karthikeyan, Danica Patrick and Lewis Hamilton breaking through the grid. But this year, the Indianapolis 500, one of the most prominent races in the world (certainly in America) will feature, for the first time in motorsport history, three female drivers.